Mobileye N.V., a supplier of technology needed for self-driving cars, has plenty of horsepower to rev up on Wall Street, with one analyst suggesting the Israel-based company has a strong position in the emerging autonomous vehicle trend.

RBC Capital Markets auto analyst Joseph Spak initiated coverage on Mobileye with a $43 target price, 33.7% higher than where it is currently trading. The company, which develops advanced driver assistance systems (ADAS), started trading on NYSE earlier this month and, after raising $890 million in an initial public offering priced above expectations, the company’s share price surged 48% on the first day.

RBC describes the company as “a prime beneficiary of the ADAS and autonomous driving mega-trends” and it expects the company to “experience hyper growth through the end of the decade” with a compound annual growth rate of near %50. It describes Mobileye as the “only real “pure-play” for investors looking for ADAS and autonomous driving exposure.”

In a recent note to investors, Morgan Stanley auto analyst Adam Jonas said “a battle is brewing in the industry” over the next half decade. Mr. Jonas said the biggest of auto suppliers seek to control the central nervous system of a vehicle’s web of electronic components. “To do so, we believe that a supplier must have expertise about multiple critical parts of the car including the brakes, steering, chassis, electrical architecture, human machine interface and engine.”

Smaller firms like Mobileye stand strong amid this trend, holding the keys to high-value technology that every supplier and auto maker will need to make self-driving cars a reality in coming years. Auto makers ranging from Audi and Nissan to Volvo and Mercedes (not to mention non-car companies like Google) are spending big to speed the development of such cars.

“Mobileye is a unique opportunity to invest in – a leader in a market on the cusp of inflection,” says the RBC report, going on to describe Mobileye as an equivalent of the “Wintel” duo in ADAS and autonomous driving.

RBC states that an inflection point on the uptake of ADAS is expected due to the fact that the technology is required of cars in order to achieve a European 4 or 5 star safety rating and given that 90% of current western European fleet is made up of cars with 4 to 5 stars and an expectation of that mix to hold. It also expects an up-tick in the technology adoption in the US. It forecasts a penetration of 39% of the market by 2020, a penetration level that would bring Mobileye’s annual revenues to around $1.2 billion from $81 million in 2013.

The second leg of growth for Mobileye would come according to RBC’s report from autonomous driving. “Autonomous vehicles … may dominate the landscape by the middle of the century and are a large potential opportunity. We believe Mobileye can offer a cost-effective autonomous driving solution and it is already set to launch to programs in 2016,” the report states.